Coming in at third is LT Group's Lucio Tan, who has a net worth of $4 billion. Ranked 380th in the Forbes list, Tan has snatched the title of being the third richest Filipino from International Container Terminal Services (ICTSI) chairman Enrique Razon Jr., whose fortunes fell from $5.2 billion last year to $2.4 billion this year.

LT Group owns Asia Brewery and has a stake in Philip Morris-Fortune Tobacco, which has an estimated 80 percent market share of the cigarette market in the Philippines.